MGC vs. MGK

Last updated Jun 23, 2026

MGC (Vanguard Mega Cap ETF) and MGK (Vanguard Mega Cap Growth ETF) are both exchange-traded funds - MGC is a Large Cap Blend Equities fund tracking the CRSP US Mega Cap Index, while MGK is a Large Cap Growth Equities fund tracking the CRSP US Mega Cap Growth Index. Both are passively managed. Over the past 10 years, MGC returned 16.51%/yr vs 19.23%/yr for MGK. With a 0.95 correlation, they move nearly in lockstep. Both charge a 0.05% expense ratio.

Performance

MGC vs. MGK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mega Cap ETF (MGC) and Vanguard Mega Cap Growth ETF (MGK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGC achieves a 9.05% return, which is significantly higher than MGK's 5.89% return. Over the past 10 years, MGC has underperformed MGK with an annualized return of 16.51%, while MGK has yielded a comparatively higher 19.23% annualized return.

MGC

• 1D: -0.63%
• 1M: -0.40%
• YTD: 9.05%
• 6M: 8.78%
• 1Y: 27.57%
• 3Y*: 22.54%
• 5Y*: 14.13%
• 10Y*: 16.51%

MGK

• 1D: -1.39%
• 1M: -1.85%
• YTD: 5.89%
• 6M: 5.30%
• 1Y: 25.90%
• 3Y*: 24.22%
• 5Y*: 14.43%
• 10Y*: 19.23%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MGC vs. MGK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGC Vanguard Mega Cap ETF	9.05%	19.31%	27.16%	29.77%	-19.95%	27.58%	21.57%	31.14%	-3.45%	22.61%
MGK Vanguard Mega Cap Growth ETF	5.89%	20.67%	32.94%	51.67%	-33.59%	28.58%	41.01%	37.38%	-2.91%	29.49%

Correlation

The correlation between MGC and MGK is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Dec 27, 2007	0.95

The correlation between MGC and MGK has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

MGC vs. MGK - Sectors Allocation Comparison

Sectors	MGC	MGK
Technology	42.9%	59.0%
Communication Services	12.3%	15.8%
Financial Services	10.9%	4.1%
Consumer Cyclical	9.8%	12.2%
Healthcare	8.6%	4.6%
Industrials	6.0%	1.0%
Consumer Defensive	4.4%	0.4%
Energy	2.3%	-
Basic Materials	1.1%	0.6%
Real Estate	0.9%	1.1%
Utilities	0.9%	1.0%

Return for Risk

MGC vs. MGK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MGC

MGC Risk / Return Rank: 65
MGC Sharpe Ratio Rank: 68
MGC Sortino Ratio Rank: 65
MGC Omega Ratio Rank: 66
MGC Calmar Ratio Rank: 58
MGC Martin Ratio Rank: 68

MGK

MGK Risk / Return Rank: 39
MGK Sharpe Ratio Rank: 44
MGK Sortino Ratio Rank: 42
MGK Omega Ratio Rank: 41
MGK Calmar Ratio Rank: 32
MGK Martin Ratio Rank: 35

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MGC vs. MGK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap ETF (MGC) and Vanguard Mega Cap Growth ETF (MGK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MGC	MGK	Difference
Sharpe ratio: Return per unit of total volatility	2.13	1.51	+0.62
Sortino ratio: Return per unit of downside risk	2.88	2.08	+0.80
Omega ratio: Gain probability vs. loss probability	1.38	1.26	+0.12
Calmar ratio: Return relative to maximum drawdown	2.81	1.54	+1.27
Martin ratio: Return relative to average drawdown	12.20	5.19	+7.01

MGC vs. MGK - Sharpe Ratio Comparison

The current MGC Sharpe Ratio is 2.13, which is higher than the MGK Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of MGC and MGK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MGC vs. MGK - Drawdown Comparison

The maximum MGC drawdown since its inception was -52.26%, which is greater than MGK's maximum drawdown of -48.43%. Use the drawdown chart below to compare losses from any high point for MGC and MGK.

Drawdown Indicators

	MGC	MGK	Difference
Max Drawdown Largest peak-to-trough decline	-52.26%	-48.43%	-3.83%
Max Drawdown (1Y) Largest decline over 1 year	-9.85%	-16.85%	+7.00%
Max Drawdown (3Y) Largest decline over 3 years	-19.28%	-23.36%	+4.08%
Max Drawdown (5Y) Largest decline over 5 years	-25.74%	-36.01%	+10.27%
Max Drawdown (10Y) Largest decline over 10 years	-33.07%	-36.01%	+2.94%
Current Drawdown Current decline from peak	-2.36%	-5.13%	+2.77%
Average Drawdown Average peak-to-trough decline	-7.17%	-7.58%	+0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	5.00%	-2.73%

Volatility

MGC vs. MGK - Volatility Comparison

The current volatility for Vanguard Mega Cap ETF (MGC) is 5.00%, while Vanguard Mega Cap Growth ETF (MGK) has a volatility of 6.78%. This indicates that MGC experiences smaller price fluctuations and is considered to be less risky than MGK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGC	MGK	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.00%	6.78%	-1.78%
Volatility (6M) Calculated over the trailing 6-month period	10.23%	13.63%	-3.40%
Volatility (1Y) Calculated over the trailing 1-year period	13.01%	17.22%	-4.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.37%	22.78%	-5.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.27%	21.97%	-3.70%

MGC vs. MGK - Expense Ratio Comparison

Both MGC and MGK have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

MGC vs. MGK - Dividend Comparison

MGC's dividend yield for the trailing twelve months is around 0.88%, more than MGK's 0.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGC Vanguard Mega Cap ETF	0.88%	0.93%	1.15%	1.35%	1.65%	1.17%	1.45%	1.81%	2.10%	1.83%	2.14%	2.11%
MGK Vanguard Mega Cap Growth ETF	0.33%	0.35%	0.43%	0.50%	0.70%	0.41%	0.65%	0.85%	1.12%	1.23%	1.53%	1.43%

Frequently Asked Questions

Can I hold both MGC and MGK in my portfolio?

With a correlation of 0.95, MGC and MGK move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MGC or MGK?

MGK has higher volatility (6.78%) compared to MGC (5.00%). In terms of maximum drawdown, MGC dropped -52.26% vs MGK's -48.43%.

Which ETF is better, MGC or MGK?

On 10-year performance, MGK leads with 19.23% vs 16.51% for MGC. Both ETFs have the same 0.05% expense ratio. On volatility, MGC has been the lower-risk option at 5.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MGC or MGK?

Over the 10-year period, MGK has performed better with a 19.23% return vs 16.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MGC or MGK?

MGC and MGK have the same expense ratio: 0.05% per year.

Which ETF pays a higher dividend yield, MGC or MGK?

MGC has the higher dividend yield at 0.88%, compared with 0.33% for MGK.

What is the main difference between MGC and MGK?

MGC is categorized as Large Cap Blend Equities, while MGK is Large Cap Growth Equities. MGC tracks CRSP US Mega Cap Index, while MGK tracks CRSP US Mega Cap Growth Index.

Which has better risk-adjusted returns?

MGC currently has the higher Sharpe Ratio (2.13 vs 1.51), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.